Please give me answer accounting Eaton Manufacturing Company produced 1,600 units of inventory in January 2014.It expects to produce an additional 10,400 units during the remaining 11 months ofthe year. In other words, total production for 2014 is estimated to be 12,000 units.Direct materials and direct labor costs are $64 and $52 per unit, respectively. EatonCompany expects to incur the following manufacturing overhead costs during the2014 accounting period.Production supplies$ 10,000Supervisor salaryDepreciation on equipment160,00065,00020,000UtilitiesRental fee on manufacturing facilities 45,000Required:a. Combine the individual overhead costs into a cost pool and calculate apredetermined overhead rate assuming the cost driver is the number of units.b. Determine the cost of the 1,600 units of product made in January.Indirect overhead cost:Direct materials:Direct Labor:Total:

Step 1: Define Traditional Costing SystemA traditional costing system is one way a company allocates…

Answered: Eaton Manufacturing Company produced…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter2: Job Order Costing

Section: Chapter Questions

Problem 4CMA: Patterson Corporation expects to incur 70,000 of factory overhead and 60,000 of general and...

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A company estimates its manufacturing overhead will be $840,000 for the next year. What is the predetermined overhead rate given each of the following Independent allocation bases? Budgeted direct labor hours: 90,615 Budgeted direct labor expense: $750000 Estimated machine hours: 150,000
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The Sales Department of Minimus Inc. has forecast sales for May 2016 to be 40,000 units. Additional information follows: Materials used in production: Direct labor hours required in production: Prepare the following: a. A production budget for May. b. A direct materials budget for May. c. A direct labor budget for May.
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At the end of November 2016, Caribbean Productions Ltd had 700 units of product BMR400 in store. For the month of December 2016, the company budgeted to produce 10,000 units of the product at a selling price of $2,500 each. Fixed administration and selling expenses were expected to be $1,500,000 and $1,000,000 respectively. During the month, the company produced 10,500 units of the product. On December 31, 2016, there were 1,100 units of the product on hand. The following cost information relating to the product was made available at the end of December 2016: Cost per unit Details $ Direct material 400 Direct labour 500 Variable production overheads 300 1,200 Fixed production overheads 150 Total 1,350 Required: (c) Calculate the profit for December 2016 using the marginal costing approach. (d)…
At the end of November 2016, Caribbean Productions Ltd had 700 units of product BMR400 in store. For the month of December 2016, the company budgeted to produce 10,000 units of the product at a selling price of $2,500 each. Fixed administration and selling expenses were expected to be $1,500,000 and $1,000,000 respectively. During the month, the company produced 10,500 units of the product. On December 31, 2016, there were 1,100 units of the product on hand. The following cost information relating to the product was made available at the end of December 2016: Cost per unit Details $ Direct material 400 Direct labour 500 Variable production overheads 300 1,200 Fixed production overheads 150 Total 1,350 Required: (e) Explain to management the circumstance that would have to prevail for both methods to produce the same profit figures. (f) Reconcile the profits…
At the end of November 2016, Caribbean Productions Ltd had 700 units of product BMR400 in store. For the month of December 2016, the company budgeted to produce 10,000 units of the product at a selling price of $2,500 each. Fixed administration and selling expenses were expected to be $1,500,000 and $1,000,000 respectively. During the month, the company produced 10,500 units of the product. On December 31, 2016, there were 1,100 units of the product on hand. The following cost information relating to the product was made available at the end of December 2016: Cost per unit Details $ Direct material 400 Direct labour 500 Variable production overheads 300 1,200 Fixed production overheads 150 Total 1,350 Required: (a) What was the contribution per unit of production for December 2016? (b) How many units of Product BMR400 were sold in December 2016?
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Chubbs Inc.’s manufacturing overhead budget for the first quarter of 2020 contained the following data. Variable Costs Fixed Costs Indirect materials $11,300 Supervisory salaries $36,600 Indirect labor 10,600 Depreciation 7,700 Utilities 7,700 Property taxes and insurance 8,000 Maintenance 5,700 Maintenance 5,300 Actual variable costs were indirect materials $15,300, indirect labor $9,300, utilities $9,600, and maintenance $5,100. Actual fixed costs equaled budgeted costs except for property taxes and insurance, which were $9,100. The actual activity level equaled the budgeted level.All costs are considered controllable by the production department manager except for depreciation, and property taxes and insurance.(a) Prepare a manufacturing overhead flexible budget report for the first quarter. (List variable costs before fixed costs.) CHUBBS INC.Manufacturing Overhead Flexible Budget ReportFor the Quarter Ended March 31, 2020…
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